Wal-Mart Invests C$450 Million in Canadian Stores

Jan. 22 (Bloomberg) -- Wal-Mart Stores Inc., the world’s
largest retailer, will spend C$450 million ($453 million)
building new outlets and renovating stores in Canada, pushing
back at rival Target Corp.’s expansion into the country.

Walmart Canada will complete at least 37 superstores in the
year through January 2014 and will increase its distribution
network, the Bentonville, Arkansas-based company said today in a
statement.

Wal-Mart is bolstering its presence in Canada and working
to attract and retain customers as Target expands outside the
U.S. for the first time. Walmart Canada expects to end the month
with 379 locations, including 209 superstores, while Target
plans to open 125 sites in Canada this year.

Full grocery sections will be added to more locations
across Canada, Shelley Broader, chief executive officer of
Walmart Canada, said in the statement. The company also will
introduce its supercenter format to locations in Canada’s
Maritimes provinces this year.